Code Sections: A 027-0007-0017, A 027-0007-0021, A 027-0007-0009, A 027-0007-0095, A 027-0007-0103, A 027-0065-0017

Title: AN ACT TO AMEND SECTIONS 27-7-17 AND 27-7-21, MISSISSIPPI CODE OF 1972, TO INCREASE THE INCOME TAX OPTIONAL STANDARD DEDUCTION AND THE PERSONAL INCOME TAX EXEMPTION FOR MARRIED INDIVIDUALS AND HEADS OF HOUSEHOLDS OVER A PERIOD OF FOUR YEARS; TO AMEND SECTIONS 27-7-9, 27-7-95 AND 27-7-103, MISSISSIPPI CODE OF 1972, TO INCREASE THE LIMITATION ON THE EXCLUSION FROM CAPITAL GAINS ON THE SALE OR EXCHANGE OF A RESIDENCE BY A MARRIED TAXPAYER WHO HAS ATTAINED THE AGE OF FIFTY-FIVE; TO INCREASE THE LIMITATION ON ALLOWANCES OF LOSSES FROM SALES OR EXCHANGES OF CAPITAL ASSISTS BY MARRIED TAXPAYERS; TO AMEND SECTION 27-65-17, MISSISSIPPI CODE OF 1972, TO REDUCE THE TAX ON RETAIL SALES OF CERTAIN FOOD ITEMS, BY LOWERING THE TAX FROM SEVEN PERCENT TO THREE PERCENT OVER A PERIOD OF FOUR YEARS; AND FOR RELATED PURPOSES.

Information pertaining to this measure was last updated on 02/27/97 at 10:34.